IRD falls short of its revenue collection target by Rs 72 billion in the first eight months of current FY

Published On: March 30, 2024 06:58 PM NPT By: Republica  | @RepublicaNepal


IRD falls short of its revenue collection target by Rs 72 billion in the first eight months of current FY

KATHMANDU, March 30: The Inland Revenue Department (IRD) collected revenue worth Rs 310.94 billion in the first eight months of the current fiscal year, which was around Rs 72 billion less than the targeted amount for the period.

The IRD projected to collect revenue worth Rs 383.55 billion during mid-July 2023 and mid-March 2024. Ananda Prasad Gupta, information officer of the IRD, informed that the revenue collection fell short of the target in the given period.

The department collected Rs 137.65 billion in income tax, Rs 75.33 billion in value added tax and Rs 27.02 billion from the tax on interest income. Likewise, the IRD generated Rs 62.81 billion from excise duty, Rs 4.31 billion from health service tax and Rs 2.07 billion from education service tax during the review period. 

 

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